کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
967340 931196 2007 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Bargaining and the value of money
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Bargaining and the value of money
چکیده انگلیسی
Search models of monetary exchange have typically relied on Nash [1950. The bargaining problem. Econometrica 18, 155-162] bargaining, or strategic games that yield an equivalent outcome, to determine the terms of trade. By considering alternative axiomatic bargaining solutions in a search model with divisible money, we show that the properties of the bargaining solutions do matter both qualitatively and quantitatively for questions of first-degree importance in monetary economics such as: (i) the efficiency of monetary equilibrium; (ii) the optimality of the Friedman rule and (iii) the welfare cost of inflation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 54, Issue 8, November 2007, Pages 2636-2655
نویسندگان
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